If you are engaged as an accelerated mortgage payment provider in Minnesota you are required under Sections 332.30 to 332.303 of the Minnesota Statutes to file a Minnesota Accelerated Mortgage Payment Provider Bond as a condition of licensure.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Minnesota Accelerated Mortgage Payment Provider Bond holds you accountable for your business decisions.
By possessing a Minnesota Accelerated Mortgage Payment Provider Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.